By Charisse Ede
August 15, 2007 01:58pm
Article from: AAP
A $140 million wind farm mooted for southeast Victoria has been officially dumped as no longer being financially viable.
AGL Energy Limited placed its application to build the 48 turbine Dollar Wind Farm on indefinite hold last October, and the company today confirmed it was pulling out of the proposal.
"On 15 August, AGL formally advised the minister for planning of its intention to withdraw the planning application for the Dollar Wind Farm," the company said in a statement.
"Even considering the current and any future emissions trading environment, the economics of the project are less compelling as compared with other projects under investment consideration by AGL.
"Renewable energy is AGL's core business and we will continue to explore and develop a diverse power generation portfolio including base, peaking and intermediate generation plants."
Nationals Victorian leader Peter Ryan hailed the decision as a great day for thousands of south Gippsland residents who had joined together to fight the project.
"There is community support for wind farms in appropriate locations but not along our pristine coastline where the negative impacts in terms of aesthetics and losses to the tourism industry outweigh the alleged benefits," he said.
Mr Ryan called on the Government to release the final planning report into the wind farm, which was started more than two years ago.
The wind farm was to be built near the communities of Dollar, Meeniyan, Dumbalk, Foster and Stony Creek, in south Gippsland.
It would have contributed 79 megawatts (MW) to the Victorian government's target of creating 1,000 MW of wind energy by 2010.http://www.news.com.au/business/story/0,23636,22249134-31037,00.html